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CORPORATIONS BUILD THEIR OWN UNIVERSITIES
Corporations are increasingly establishing universities as a way to train employees. Currently, 1,600 corporate universities exist in the U.S., and 40 percent of Fortune 500 companies have universities. Companies in western Europe and Latin America are also joining the university trend. Recent mergers have underscored the importance of corporate universities. For example, Daimler-ChryslerCEO Jurgen Schrempp in a Chicago speech emphasized the role of Daimler's university in unifying the merged Daimler and Chrysle rcompanies. Schrempp says the university will help instill the two companies with a common culture. Also relying on a corporate university is Citicorp's merger with Travelers Group, which will use the university to train employees in cross-selling each other's products. Many use the Internet, which provides a simpler, less expensiveway for companies to provide all of its workers with training. Since many employees expect their companies to provide them with skills for their next jobs, many corporate universities attempt to offer actua ldegrees,often by joining with conventional universities. (Financial Times04/26/99)
Contact F. David Peat
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